Shell could increase carbon price estimates

Shell, the largest oil company in Europe, currently assumes that it’ll pay $40 for each metric ton of carbon emissions when it budgets for future investments, Bloomberg said, citing Angus Gillespie, vice president of for carbon emissions at Shell.

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That estimate is nearly six times what the European Union currently charges polluters. But Bloomberg estimates the price could reach $41 a ton by the next decade as the continent tries to further reduce emissions.